Provenonce, Creator of NFT Oasis, Raises $ 4.4 Million to Help VR Creators Reach the Masses

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the Oasis TVN Creator Provenonce has raised $ 4.4 million to enable virtual reality creators to reach the mass market through VR art galleries.

The company has created a VR gathering place that is like a hub for artists. It has a lovely art gallery in the clouds which has showcased the art of over 200 artists and musicians since April. Every week, events are held in impressive virtual environments and the exhibits are broadcast to the outside world.

Formed in March 2021, the Oasis NFT de Provenonce is a platform that powers the decentralized creator economy – combining non-fungible tokens (NFT), virtual reality (VR) and decentralized finance (DeFi) into one ecosystem to give artists more creative freedom, business control and financial success.

While the adoption of VR itself is still in its early stages, artists inside the VR experience can stream whatever they do to the world outside of VR via social media. The company sees the platform as a bridge to the metaverse, the universe of virtual worlds that are all interconnected, as in novels such as Snow accident and Loan Player One.

Will O’Brien, CEO of Provenonce, said in an email to GamesBeat that he has already retired from the games business (he has worked in places such as Big Fish Games in the past), but that he came back for this momentous opportunity.

Above: Artists can show their art in the NFT Oasis Gallery.

Image Credit: Oasis NFT

“I believe now is the time to change the world and radically disrupt an industry that has exploited artists,” said O’Brien. “We have a very big vision to launch the decentralized and abundant designer economy. NFTs are the corner, VR is the stage, and blockchain is the infrastructure on which we’re going to make it a reality. “

Based in Silicon Valley, O’Brien said that the human experience is driven by stories, and that’s how we remember our history, our cultural relevance, and things like art, music and real estate. The goal is to create personalized virtual worlds where artists can show off their art.

“Over the past few decades, companies have tried to bring users to virtual reality,” said O’Brien. “We use virtual reality as a stage for creators to broadcast to the masses. This includes live performances, art walks, fireside chats and other events, all of which help increase an artist’s cultural relevance and economic opportunities. Think about MTV when it launched and how this format has enabled artists to reach the next generation in so many ways.

Above: NFT Oasis has over 200 artists showcasing products.

Image Credit: Oasis NFT

Prior to the tour, O’Brien funded the business himself. He said Provenonce has raised funds from a total of 32 people, family offices and funds in the United States, Europe, the Middle East and Asia. This diverse and influential group of investors provides a strategic base that connects the established art and music world with new innovators in NFT and DeFi.

Some of the investors in this round are:

  • Brad Stephens, Managing Partner at Blockchain Capital
  • Lemniscap
  • CitizenX Crypto Ventures
  • Delphi Digital INFINFT and gmoneyNFT
  • FlamingoDAO
  • Identification theory
  • Intellectus Partners
  • Capital Koji
  • Capital Mechanism
  • OzoneX
  • Stateless businesses
  • LAO

Bringing the NFT movement to life in virtual reality

O’Brien said the possibilities for expression are endless in the Oasis NFT. Artists can organize gallery exhibitions and panel discussions with guests from all over the world. Collectors can organize their own personalized galleries in fantastic virtual worlds. Designers and programmers can be hired to create virtual experiences for creators, while independent generalists can work in a decentralized concert economy to support events and help creators gain more recognition. Creators can speak to each other with their own voices.

NFT Oasis’ flagship platform is AltspaceVR, a social virtual reality platform owned by Microsoft. All of the best social features of a virtual world are included, such as custom avatars, real-time voice and interaction, and events. Users can access the Oasis NFT on an Oculus VR headset and PC / Mac, or watch live and recorded content on any social media platform.

The Oasis NFT is also an opportunity for musicians. Since its inception, the platform has seen performances from artists such as Grammy winner Imogen Heap, pianist Greg Spero, and K-pop stars Aweek, Lee Eun Bi and Hayeon. Musicians can use a range of technologies, from green screen to motion capture, to bring their performances into the metaverse, stage concerts for thousands of attendees in virtual reality, and broadcast live to the masses.

Above: Will O’Brien self-funded NFT Oasis for a while and now has 32 investors.

Image Credit: Oasis NFT

Artists have already started adopting blockchain technology for decentralized identity and NFTs. NFTs have exploded in applications such as art, sports collectibles, and music. Best shot in the NBA (a digital version of collectible basketball cards) is one example. Built by Dapper Labs, NBA Top Shot has surpassed $ 700 million in sales just seven months after its IPO. And an NFT digital collage by artist Beeple sold at Christie’s for $ 69.3 million. The game has a few new unicorns, or startups valued at $ 1 billion, in Animoca Brands and Forte. NFTs are now selling at a rate of $ 23 million per week, although the initial hype around NFT is fading.

The next step in decentralization will be in the legal, financial and community layers, O’Brien said. NFT Oasis launches an intelligent, contract-based system that allows creators and communities to establish the economics of their labor and permissions for their metaverse experiences.

Each creator of NFT Oasis will receive a Provenonce token which is his access key to the “metaverse” of NFT Oasis. Via this token, a creator can determine how the proceeds of creative activities are earned and distributed. Traditional entertainment contracts can be integrated into the blockchain and innovative new approaches, such as Decentralized Autonomous Organizations (DAO), can be deployed to create many models to engage fans and evolve communities.

The founders

NFT Oasis is 100% owned and operated by Provenonce. The founding team includes O’Brien, Greg Edwards, Jesse Nolan and Patrick Booth.

O’Brien was previously the co-founder of BitGo, which was acquired by Galaxy Digital for $ 1.2 billion. Prior to BitGo, O’Brien was an executive with Big Fish Games, which was acquired for $ 885 million by Churchill Downs and later sold to Aristocrat for $ 990 million. He is a limited partner and advisor at Blockchain Capital, an angel investor in dozens of start-ups and an advisor to an elite group of startups and funds in Silicon Valley, Europe and Korea.

Edwards, lead designer, was previously the lead designer of an award-winning project that brought Burning Man to VR in 2020 with over 90,000 user sessions and 200 community-created virtual worlds. Edwards was previously a new media producer for CBS and also worked with Oculus and Goldenvoice to produce and develop the first VR music festival experience for the Coachella Music Festival.

Nolan, product and culture manager, is a multidisciplinary creative director. His musical project “Caught a Ghost” has over 100 million streams and placements. And Booth is at the head of the blockchain and the community. He has symbolized his work since early 2017 as a Solidity smart contract developer and full-stack engineer. He was also a technical analyst for Cryptoblood.io and Gokhshteinmedia.com.

The company has 10 people and five advisers.

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